What Is the Difference Between a Tax Deduction and a Tax Credit?...

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2025-11-20 17:05:44 -

What Is the Difference Between a Tax Deduction and a Tax Credit? Which One Is Better, and How Do They Affect Your Tax Bill?

What Is the Difference Between a Tax Deduction and a Tax Credit? Which One Is Better, and How Do They Affect Your Tax Bill? When tax season arrives, most taxpayers look for ways to reduce what they owe or increase their refund. Two of the most powerful tools that can reduce your tax liability are tax deductions and tax credits. Although people often use these terms interchangeably, they work...

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